Pine Tree Equity Recapitalizes North State Acceptance
Pine Tree Equity III, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that it has recapitalized North State Acceptance, LLC (“North State” or the “Company”) in partnership with management in November 2013. The Company, founded in 1997 and headquartered in Raleigh, NC, is the largest independent provider of sub prime auto finance and ancillary insurance products primarily to borrowers in North Carolina. North State has an exceptionally strong history of asset growth and operating profitability even in the most challenging of financial markets. For additional information, please visit northstateacceptance.com.
Pine Tree Equity partnered with the senior management of North State Acceptance, who has been integral to the Company’s success since its inception, to recapitalize the finance platform in order to materially expand its asset base and geographic coverage beyond North Carolina, and aggressively pursue add-on acquisitions.
North State Acceptance marks Pine Tree Equity’s 4th investment in the financial services industry and 23rd investment since Pine Tree Equity’s inception in 2007. We are pleased to offer traditional referral fees for a closed transaction based on a signed fee agreement. For additional information, please visit www.pinetreeequity.com or please call Jeff Settembrino.